Service Tax Dept to auction Mallya s aircraft

Service Tax Dept to auction Mallya s aircraft - News and Press Release - Dated:- 27-10-2016 - The Service Tax Department will next month auction liquor baron Vijay Mallya's corporate jet of the now-defunct Kingfisher Airlines to recover dues of ₹ 535 crore. The department in Mumbai has invited online global bids for sale of Corporate Jet Airbus A319 stationed at the Mumbai International Airport belonging to Kingfisher Airlines which has already been attached by it. The bidding will be .....

id the guidelines for the e-auction. The prospective bidders shall have to submit interest free pre-Bid Earnest Money Deposit (EMD) to MSTC by November 27. EMD for Indian bidders has been kept at ₹ 1 crore while it will be USD 1,52,000 for foreign players. In March, the department had claimed in a petition to the Bombay High Court that Mallya's total disputed liability in respect of service tax was to the tune of ₹ 535 crore. It was also claimed that Mallya had collected a large .....